BrightHouse has completed its debt refinancing, resulting in more than £100m of senior debt facilities that it will use for repayment of existing financing and working capital.
Owner Vision Capital said the financing was provided by a consortium of Lloyds Banking Group, GE Capital and Ares Capital.
The rent-to-own electricals and furniture retailer last week revealed EBITDA rocketed 21.8% to £20.7m in its first half, while like-for-likes were up 6.7%.
Vision Capital managing partner Alister Wormsley said: “We are pleased to have successfully completed the refinancing with three blue chip financial institutions.
The refinancing is a reflection of Brighthouse’s successful track record, strong cash generation and ambitious growth plans. It will ensure that BrightHouse has the appropriate capital structure to further invest in the business and extend its footprint across the UK.”
BrightHouse chief executive Leo McKee said: “I am delighted that Vision Capital and the team at BrightHouse have completed this refinancing. We are performing strongly and this gives us the platform to continue to deliver robust growth going forward.”